Sanofi Gets Backing From U.S. Government to Develop a COVID-19 Vaccine

Sanofi (NASDAQ: SNY) is teaming up with the U.S. government in its attempt to develop a vaccine for the COVID-19 coronavirus. Through the Biomedical Advanced Research and Development Authority (BARDA), the government will support those efforts, although financial details of the agreement weren't disclosed.

Protein Sciences, which Sanofi acquired in 2017, has a bit of a head start, having worked on a vaccine for SARS, which is caused by another coronavirus. That treatment didn't get off the ground because SARS petered out just a couple of years after it emerged in 2002, but preclinical work showed that Sanofi's SARS vaccine candidate produced partial protection in animals challenged with the virus.

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Source Fool.com